which of these practices describe how producers in oligopolies generally try to create competition? check…
which of these practices describe how producers in oligopolies generally try to create competition? check all that apply.\nby keeping prices low\nby offering promotions\nby advertising\nby cultivating brand loyalty\nby overcoming barriers to entry\nby developing a specific image
Answer
Brief Explanations:
Producers in oligopolies use various strategies. Keeping prices low can attract customers from competitors. Promotions like discounts or buy - one - get - one - free can also draw in more buyers. Advertising helps in making their products more visible and appealing. Cultivating brand loyalty makes customers stick to their products. Developing a specific image differentiates their products in the market. Overcoming barriers to entry is more about new firms entering the market rather than creating competition among existing oligopolistic producers.
Answer:
by keeping prices low by offering promotions by advertising by cultivating brand loyalty by developing a specific image